Punjab National Bank shares tumble nearly 11 pc after Q2 earnings - check details here

Shares of Punjab National Bank (PNB) on Thursday declined nearly 11 per cent after the company reported a fall in income for the second quarter ended September.

The stock tanked 10.69 per cent to Rs 41.35 on BSE as well as NSE. During the day, it dived 11.44 per cent to Rs 41 on both the exchanges.

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In volume terms, 188.11 lakh shares were traded on BSE and over Rs 32.13 crore on NSE.

The earnings were announced post-market hours on Wednesday.

The state-owned bank reported a 78 per cent rise in net profit to Rs 1,105 crore for the second quarter ended on September 30 despite a fall in income.

It had posted a net profit of Rs 620.81 crore during the corresponding quarter a year ago.

However, the bank's total income during the July-September quarter declined to Rs 21,262.32 crore as against Rs 23,279.79 crore in the corresponding period last year, PNB said in a regulatory filing.

The bank's operating profit too declined to Rs 4,021.12 crore from Rs 5,674.91 crore in the same quarter in the previous financial year.

On the asset quality front, the lender's gross non-performing assets (NPAs) increased marginally to 13.63 per cent of the gross advances at the end of September 2021, from 13.43 per cent a year ago period. Net NPAs also increased to 5.49 per cent as against 4.75 per cent a year ago.